Depot prices across Nigeria showed mixed movements this week, tracking global oil market volatility as Brent crude slid to $65 per barrel its lowest point since December 2021. The decline, triggered by US President Donald Trump’s sweeping import tariffs and OPEC+’s production hike, has started to ripple through the downstream oil market, with early signs of a correction in local depot pricing.
Dangote Depots Hold Steady
For the period of 2–4 April 2025, Dangote depots showed no change in premium motor spirit (PMS) and liquefied petroleum gas (LPG) prices:
- PMS: ₦891 (Opening and Closing)
- AGO: Dropped from ₦1024 to ₦1022
- LPG: Steady at ₦812
- ATK: Unchanged at ₦1025
Dockyard Axis Records Mild Fluctuations
- PMS: Nipco held firm at ₦900
- AGO: Nipco declined from ₦1022 to ₦1016; Aiteo from ₦1025 to ₦1016
- LPG: Nipco and 11plc stayed unchanged at ₦850
Coconut Axis Shows Stability in PMS, Drop in AGO
- PMS: Aipec rose slightly from ₦895 to ₦897; Matrix stable at ₦905
- AGO: Ibeto slid from ₦1021 to ₦1015; Africa Terminal from ₦1023 to ₦1015
- LPG: Techno Gas held steady at ₦845
- ATK: Sahara unchanged at ₦1054
Satellite Axis Experiences PMS Gains
- PMS: AA Rano climbed from ₦890 to ₦905; Chipet from ₦900 to ₦905
- AGO: Mao and Menj each fell from ₦1020 to ₦1015
- ATK: Rain Oil remained steady at ₦1050
Port Harcourt Depots Remain Largely Stable
- PMS: Minor drop from ₦920 to ₦919 (SIGMUND and EVA); Masters remained unchanged
- AGO: Bulk Strategic unchanged at ₦1036
- LPG: Stockgap declined from ₦870 to ₦860
Delta Axis Sees Gradual Downtrend
- PMS: Zamson fell to ₦911, Matrix Warri to ₦915, and Parker to ₦913 from ₦920
- AGO: Most depots, including Rainoil, Matrix, Taurus and Pinnacle, held prices stable
- LPG: A.Y.M Shafa dipped from ₦850 to ₦837; Matrix Warri unchanged at ₦835
- ATK: Matrix Warri held at ₦1050
Calabar Axis Reports Minor Drops in PMS
- PMS: Mainland eased from ₦920 to ₦918; Alkanes and Soroman both dropped to ₦915
Despite fluctuations in crude oil prices, some Nigerian depots are showing resilience, while others reflect early signs of a price realignment. Analysts say a sustained low in global prices may lead to broader reductions in coming weeks.
